Alexander Thams joins KKR’s European Real Estate team as Head of Nordics

KKR

Appointment strengthens KKR’s growing presence in the Nordics region 

Stockholm, 22 September 2022: KKR, a leading global investment firm, has appointed Alexander Thams as Head of Nordics within KKR’s European Real Estate team, effective immediately. Based in KKR’s Stockholm office, Thams will drive all KKR’s real estate investing activities in the Nordics, while also building out the team within the region.

Thams joins KKR from Pictet Alternative Advisors where he was Head of Nordics, Real Estate, responsible for all real estate investments in the region. Thams has previous experience from working at Alma Property Partners and Niam. He studied Law and Finance at Stockholm University as a double degree, and also holds a Masters in Public Policy and Finance from Northwestern University.

Commenting on his appointment, Guillaume Cassou, Partner and Head of European Real Estate at KKR, said: “We’re delighted to welcome Alex to KKR at an exciting time for our European Real Estate business. The Nordics is a priority growth market for our team, and Alex brings highly relevant expertise and an extensive network that will help build on the strong existing momentum we have across Europe.”

Seb d’Avanzo, Managing Director, Head of Real Estate Acquisitions, Europe, at KKR, added: “Alex is an excellent addition to our European team. His investment experience across the region and asset classes will prove extremely valuable as we accelerate our regional investment strategy and continue to build out the team.”

Alexander Thams, Director and Head of Real Estate Nordics, said: “I’m excited to join such a well-renowned investment firm and to join a team that continues to grow across the region. We are seeing a lot of opportunity in the Nordics, where the economies are stable and showing resilience amid the changing macro environment. I look forward to combining on-the-ground expertise with KKR’s global platform and network to provide a strong foundation for sustainable investments in the region.”

KKR operates a number of real estate strategies in Europe, with the ability to invest across the risk spectrum from Core+ to value-add, including from the firm’s US$2.2 billion fund, KKR Real Estate Partners Europe II, dedicated to value-add and opportunistic real estate investments in Western Europe, which closed in June 2021. The firm has a long history of investing in the Nordics across the different KKR businesses, and an ambition to continue growing the firm’s presence in the region.

—ends—

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Enquiries

FGS Global

Alastair Elwen / Sophia Johnston
Telephone: +44 20 7251 3801
Email: KKR-Lon@FGSGlobal.com

Categories: People

Tags:

Ardian takes a majority stake in the Pointe Amont de l’Île Seguin project alongside Emerige and AOG

Ardian

This exceptionally designed mixed-use development will house an arts and culture center, hotel, cinema shopping and office space.

Ardian, one of the world’s leading private equity houses, acquired a 70% stake in the 53,000sqm Pointe Amont de l’Île Seguin project, located on the Seine in Boulogne-Billancourt, in close vicinity to Paris. This is one of Ardian’s largest property investments to date.
The project will be co-developed with Emerige, a developer committed to urban transformation, and AOG, a private investment company. The large-scale development will create a fully integrated, mixed-use environment in the heart of the Vallée de la Culture and the ZAC Ile Seguin Rives de Seine developed by SPI Val de Seine Aménagement – a tertiary, leisure, tourist and cultural zone, located close to the headquarters of major companies as well as to several public transports.
Work began in August 2022 and is expected to be completed by late 2025.

A mixed project designed as an ecosystem generating synergies with its environment
The project consists of 3 buildings:

  • A 22,000sqm mixed-use building with a cultural focus designed by Catalan firm RCR Arquitectes (Pritzker Prize 2017) and French agency CALQ Architecture. The building will house shops, a Pathé Cinéma Multiplex with innovative and state-of-the-art auditoriums, and a cultural center as well as offices, steps away from the Seine Musicale and the Albert Kahn Museum.
  • A 4-star hotel designed by the Austrian agency Baumschlager Eberle Architekten. The hotel will target 220 rooms, offering an exceptional setting for business guests and tourists. The space will include bars and restaurants with terraces, a business center, a swimming pool overlooking the Seine and balconies offering direct views over Paris and the Seine.
  • An office building also designed by RCR and CALQ offering 16,000sqm of prime office space. These different but connected and complementary buildings will offer a unique experience for businesses, residents and tourists.

A project fully integrated into its environment
This project was designed to fit seamlessly into Île Seguin’s growing redevelopment and on the Seine’s banks.
These new buildings were designed to complete the island’s cultural scene, such as La Seine Musicale, completed in 2017 and designed by Japanese architect Shigeru Ban (Pritzker Prize 2014) in collaboration with French architect Jean de Gastines.
The quality and service of the buildings will be market-leading with the highest sustainability standards, (HQE sustainable building V3 and BREEAM International New Construction V6).
This urban transformation project is perfectly aligned with Ardian’s strategy of providing sustainable finance to real estate. This is Ardian’s seventh real estate transaction in France since the launch of its first Real Estate fund in 2016.
Since 2010, Emerige and AOG have successfully developed several multi-use urban transformation projects. This includes “Beaupassage” in Paris’ 7th arrondissement, a new district and residential area dedicated to providing a quality lifestyle and good standards of wellbeing.

“With this project, we are signing what will be one of our finest achievements at Ardian Real Estate and one of our largest investments to date. Île Seguin is an exceptional site which is ripe for further redevelopment to the highest standards. This project will bring a new lease of life to the area while respecting its heritage and history. With our expert partners Emerige and AOG, we will make the Pointe Amont de l’Île an attractive mixed-use area that is respectful of the surrounding environment and provide a perfect setting for people who want to live, work and relax.”
● STÉPHANIE BENSIMON ● HEAD OF ARDIAN’S REAL ESTATE ACTIVITY

“We are delighted that Ardian Real Estate is joining Emerige and our historical partner AOG in this exceptional project. For Emerige, this serves as proof of our ability to carry out complex, large-scale real estate operations. The project on the upstream end of the Ile Seguin is emblematic, whether for its remarkable architectural signature with the architects RCR and Baumschlager Eberle or for its ambitious and innovative mixed-use program with a contemporary art center, a Pathé multiplex, a lifestyle hotel, offices and shops. All of this in a green environment that will harmoniously fit in with the Île Seguin conversion project and its 1.5 hectare park.”
● LAURENT DUMAS ● CHAIRMAN OF EMERIGE SUPERVISORY BOARD

“We are delighted to have joined forces with Ardian Real Estate to develop the Pointe Amont de l’Île Seguin project alongside Emerige. This emblematic project, with a strong cultural orientation, which is designed in compliance with the highest environmental certification standards, is completely in line with our vision of sustainable real estate that echoes our own values as a long-term investor. The privileged partnership that has historically linked us to Emerige and that will link us to Ardian for this project, constitutes a high value-added collaboration.”
● ARNAUD TALABARDON ● VICE-PRÉSIDENT OF AOG AND HEAD OF THE REAL ESTATE ACTIVITY

LIST OF PARTICIPANTS

  • In this transaction,

    • Emerige was accompanied by the notary Victoires and law firms De Pardieu Brocas Maffei and Boivin.
    • AOG was advised by the notary Victoires and law firm Gide.
    • Ardian was advised by SCP Attal, Linklaters, Lacourte Raquin Tatar, Arsène Taxand, Theop, HPM, Green Affair, In Extenso and PriceWaterhouseCoopers.
  • BANQUES & ASSUREURS

    • Archers ; Caisse d’Epargne des Hauts de France ; L’étude Wargny-Katz ; La Banque Postale ; Marsh ; RyanSG ; Godet Gaillard Solle Maraux et Associés.

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $141bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ABOUT EMERIGE

Building a better city is Emerige’s ambition. This guiding principle has been carried with rigor and responsibility for more than 30 years and guides our activity on a daily basis. As the leading developer in Paris and the fifth largest in the Greater Paris region, we build each of our residential and commercial real estate programs on the basis of a requirement shared with our stakeholders, architects, craftsmen, investors, users, elected officials, partners and artists, with whom we cultivate a relationship of trust and respect for the word given.
Since 2016, we have been committed to a voluntary and unique CSR approach that places art at the heart of our first social commitments by promoting access to culture for all, through our sponsorship policy, the dissemination of art in the city and our cultural programs dedicated to young people. Convinced of the urgency of engaging in the ecological transition in the heart of cities, Emerige is also investing in the sustainable city through 3 concrete, measurable and enforceable actions: the development of a carbon trajectory, the adhesion to the reuse booster and the adoption of 15 actions in favor of urban biodiversity on all our residential and tertiary programs.

ABOUT AOG

Founded in 1987 and chaired by Swiss entrepreneur Jean Claude Gandur, AOG is a private investment group based in Malta. A pioneer in the energy sector in Africa and the Middle East, the group has diversified into real estate over the past ten years.
AOG Real Estate, its real estate division, develops a global portfolio of investments in private equity funds in real estate as well as in commercial properties in prime European locations.
AOG enjoys a solid reputation as a responsive and reliable partner, combining the flexibility and speed of execution of a private investor with the professional expertise and governance standards of an institutional investor. For over 30 years, AOG has distinguished itself by its entrepreneurial spirit and its intuitive ability to identify new opportunities.

PRESS CONTACTS

ARDIAN

GROUPE EMERIGE

Clarisse Guyonnet

cguyonnet@emerige.com 07 85 28 62 85

AOG

Christine de Loriol

Pressenquiries@aoginvest.com

Categories: News

Tags:

KKR Expands Industrial Real Estate Portfolio in Phoenix With Acquisition of 101 at Van Buren

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has acquired 101 at Van Buren, a newly constructed industrial park consisting of two Class A buildings located in Phoenix’s Southwest Valley industrial submarket, from a real estate fund advised by Crow Holdings Capital and Seefried Industrial Properties for a purchase price of approximately $90 million. The acquisition further grows KKR’s portfolio of high-quality industrial real estate across the Phoenix market to nearly three million square feet.

The property is strategically located in close proximity to major transportation nodes, including Interstate Highway 10 (I-10) and Arizona State Route 101 (Loop 101), and has over 600,000 square feet (“SF”) of space with state-of-the-art physical features designed for multi-tenant occupancy. The buildings were delivered in June 2022 and feature 135’+ truck courts and 36 foot clear heights.

“We are excited to add 101 at Van Buren to our portfolio,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We continue to invest in high-quality industrial real estate to meet the needs of modern supply chains and are encouraged by the continued momentum in the Phoenix market, including strong leasing velocity.”

The purchases were made through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund. Across its funds in the U.S., KKR has committed or acquired approximately $7 billion of logistics assets in the industrial sector since 2018 and currently owns over 45 million SF of industrial real estate in major U.S. metropolitan areas.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media
For KKR
Miles Radcliffe-Trenner and Emily Cummings
212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

Guesty Raises $170 Million to Power the Next Generation of the Hospitality and Property Management Industry

Apax

Guesty, the leading property management platform for the short-term rental and hospitality industry, today announced it has raised a $170 million funding round, led by the Apax Digital Funds, MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round. The Series E capital will be used to scale the company’s global operations to meet increasing demand, pioneer new solutions that support the growing needs of hospitality operators, secure key acquisitions, and expand into new business verticals to solidify Guesty’s position as the industry’s gold-standard property management platform.

“Despite an exceptionally challenging fundraising climate, the funding Guesty has raised is a vote of confidence in the travel and short-term rental ecosystem, and an endorsement of our pioneering technology and position as the market leaders of the hospitality and property management software sector,” said Guesty’s Co-founder & CEO, Amiad Soto. “As alternative accommodations surge in popularity, Guesty has come out a clear winner thanks to our commitment to prioritizing innovation and ability to help our customers become more successful. We thank our existing partners Apax – who are increasing their commitment to Guesty – and are excited to welcome aboard MSD Partners and Sixth Street, whose strong track records in our ecosystem make them ideal long-term partners. As we continue to expand globally and grow our market leadership, we look forward to providing hospitality managers with even more value in the coming months and years.”

Since the onset of the pandemic in early 2020, the short-term rental (STR) industry has grown exponentially, with travelers spending more than $200 billion on STR accommodations in 2021 alone. As the ways consumers choose to live, work, socialize and travel continue to shift, the lines between traditional hotels and rental accommodations have blurred. This trend has accelerated the need for versatile hospitality management technology as operators across the board adapt to new and elevated guest expectations. Guesty’s solution equips hospitality providers of all sizes and accommodation types with an all-encompassing platform to optimize and scale operations, manage and distribute inventory – along with the tools, data-driven insights and enhanced services to effectively respond to these market trends and empower them to succeed.

Customers use Guesty to centralize their reservations across all major booking channels, including Airbnb, Vrbo, Expedia and Booking.com. The platform automates and expedites guest communications, reviews, cleaning and other operational tasks, while also facilitating direct bookings, resource and revenue management, smooth payments systems, accounting and damage protection. With its large marketplace of third-party integration partners and its open API capabilities, the platform adapts to specific business and operational requirements, providing comprehensive and bespoke solutions that serve as a one-stop-shop covering all property management needs.

“As alternative property management operations become more complex, Guesty is paving the way for the next generation of digital hospitality services,” said Dave Evans, Partner at Apax Digital. “Their track record of success and innovation, along with their platform’s growing suite of tools and intuitive user experience has Guesty positioned to define and consolidate its category, working with hosting businesses of all sizes. We are excited to continue partnering with the company as it continues to transform the industry.”

“In a largely specialized and localized industry, there is a huge opportunity to bring a global standard of service and excellence to hospitality operators of all shapes and sizes,” said Dan Bitar, Managing Director and co-Head of MSD Growth. “Guesty’s robust product offerings, strong R&D team, and proven ability to scale the business across geographies make it the ideal platform to consolidate the currently fragmented market.”

“The tech-enabled real estate ecosystem continues to grow and mature, and we look forward to joining Guesty on its journey to democratize and further professionalize the property management space,” said Michael McGinn, Partner and Co-Head of Sixth Street Growth. “With Guesty’s strong management team, long-term vision, product innovation, and marquee customers and partners, we have full confidence in the company’s ability to further cement its leadership in the world of hospitality and property management.”

The latest funding round comes at an exciting time for Guesty, having tripled its valuation and doubled its revenues since its last raise. In 2021 and 2022, Guesty launched numerous new products, services and technology partnerships as part of its core platform – including advanced accounting tools, damage protection offerings and payment solutions tailored for property management of short-term rentals. The company’s sustained growth has it positioned to reach $100 million in revenues within the next year. Guesty previously acquired property management platform companies MyVR and YourPorter and plans further acquisitions in the near future.

J.P. Morgan Securities LLC acted as sole placement agent on the transaction.

Categories: News

Tags:

CapMan sells iconic building in the Carlsberg District

Capman

CapMan sells iconic building in the Carlsberg District

The office building, located in the Carlsberg City District in the heart of Copenhagen, is now sold in a distinctive transaction.

The Property is a historical listed red building from 1883 and is also referred to as ‘Rød Lagerbygning’ (‘Red Warehouse’). It is being developed by CapMan and Revco and comprises 9,870 sq m in total. The building is currently undergoing a transformation from its original use as a warehouse and workshop through the 20th century to a modern office building while maintaining the industrial expression.

Peter Gill, Partner and Head of CapMan Real Estate Denmark, says that ‘We are very satisfied with the sale of this highly attractive property on the Danish real estate market. The refurbishment is progressing well, and the building is characterised by the original rustic industrial expression combined with a modern look and functionalities in a unique combination, that captures the atmosphere of the entire area. We had a great deal of tenant interest in the building and recently signed a long-term lease with Boston Consulting Group.’

The buyer is the German family-owned THI Investments. Director Florian Geistmann from THI Investments is delighted about this new asset saying that ‘It all comes together with the work-live-play of the location, the quality of the asset  and the tenant occupying the entire property from 2023. We look forward to the continued collaboration with CapMan and Revco.’

This transaction is a forward purchase, and the construction will continue with takeover in the summer of 2023. The purchase price is confidential but close to half a billion DKK.

‘We are extremely pleased to see this transaction fall into place. This property has attracted broad attention from international and national investors in the office market, having a fantastic location in Copenhagen and being a unique and interesting product’, says Christian Bro Jansen, Head of Capital Markets Denmark, CBRE, who has been the Seller’s commercial advisor on the transaction.

The Seller has been advised by CBRE, Accura and EY, while the buyer has been advised by NREIM, Plesner, Deloitte and Sweco.

The transaction is the sixth exit of the CapMan Nordic Real Estate II fund. CapMan Real Estate currently manages over EUR 4.0 billion in real estate assets. The Real Estate team comprises over 60 real estate professionals in Helsinki, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Peter Gill, Partner, Head of CapMan Real Estate Denmark, +45 20 43 55 63

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. Our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001.

Categories: News

Tags:

KKR Announces Sale of Chicago Industrial Warehouse Portfolio

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has sold a portfolio of distribution properties located in Chicago to a global investment manager. The portfolio consists of 13 assets with approximately 1.7 million square feet (SF) of warehouse space and average clear heights of 24 feet. The properties are located in strategic infill locations across the Chicago metropolitan area.

“We continue to see strong demand for well-located, last mile logistics real estate across Chicago,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We are very pleased to deliver this portfolio of high-quality assets to new owners who share our conviction in the market.”

KKR originally acquired the properties in December 2020 through its KKR Real Estate Partners Americas II fund. Across its funds, KKR has committed or acquired over $7 billion of U.S. logistics assets since 2018 and currently owns over 45 million SF of industrial real estate in strategic locations across major metropolitan areas nationwide.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

Ardian and Prelios Sgr finalize sale of an iconic building in Milan’s city center, to BNP Paribas Reim

Ardian

• The iconic building, located in Milan’s city centre, has been transformed under Ardian and Prelios’s ownership into a landmark asset with strong ESG and digital credentials
• The redevelopment the office building in Via Melzi D’Eril has seen the creation of a 5,700 square metres urban campus in one of the most exclusive, dynamic, and international areas of the city

Ardian, a world-leading private investment house, and Prelios SGR, one of Italy’s leading real estate and asset management companies, announced the sale  of an office building located in via Melzi D’Eril 34 in Milan to BNP Paribas REIM, one of the most important players in the European real estate market.

The building is located in one of the most exclusive areas of the city, between the Porta Nuova and CityLife districts, a few steps from Parco Sempione and the Arco della Pace, in a dynamic, international district. The proximity to several underground lines and to the Cadorna railway station, from which there is a connection to Malpensa airport, mean the asset is well-served by public transport.

The redevelopment project was conducted by Asti Architetti. It redesigned the early twentieth century building into a modern site, creating an urban campus of approximately 5,700 square metres of Gross Leasable Area (GLA). The asset now offers modern and flexible office space, including 300 square metres of panoramic terraces and another 300 square metres of rooftop with a privileged 360-degree view of the Milan skyline. There is also an exclusive 800 square metres garden that is unique for the centre of Milan.

The building will become the new headquarters of a leading IT consulting company and a notable co-working services company.

ESG was integral to the redevelopment project, in line with Ardian’s focus on environmental sustainability and tenants’ well-being. The building is one of a few to be aligned with the ambitious objectives set by the Paris Agreement in terms of CO2 emissions, aimed at limiting average global warming to well below 2 degrees Celsius.

As a result, the building has been certified as LEED Platinum, BREEAM Very Good and Well Silver, and is WiredScore compliant. These sustainability credentials have been achieved through the application of advanced technologies, including an Internet of Things (IoT) infrastructure that, combined with artificial intelligence, is able to monitor and minimize energy consumption. This automated and innovative management technology also ensures a unique and user-friendly campus experience.

Dils acted as commercial advisor for the transaction. Ardian and Prelios SGR were supported by Linklaters as legal advisor.

“Melzi d’Eril’s success demonstrates how the pandemic has shifted office market demand towards sustainable buildings that prioritise employee well-being. One of the main challenges that companies are experiencing is the ability to attract and retain talent. The campus, with its services, IoT infrastructure, common spaces and over 1,400 square meters of terraces and gardens, provides tenants with a unique and immersive experience in the heart of Milan. BNP has believed in this project for its resiliency thanks to its sustainability features and the low CO2 emissions that the building will produce between now and 2050, in line with the Paris Treaty.” MATTEO MINARDI, MANAGING DIRECTOR, ARDIAN REAL ESTATE

“The sale of Melzi d’Eril in the context of an uncertain and volatile market highlights the strength of Ardian’s strategy to create high quality, sustainable assets, aligned with the highest international ESG standards. We will continue to focus on acquiring and transforming secondary assets into green buildings amid growing institutional investor appetite for these sites.” RODOLFO PETROSINO, SENIOR MANAGING DIRECTOR, ARDIAN REAL ESTATE

“The excellent result we achieved with this operation consolidates our partnership with Ardian and confirms Prelios SGR’s leadership in value-added transactions and repositioning of historic buildings, particularly in the office sector. The Melzi d’Eril project looks to the future and to the ambitious sustainability targets that define the real estate sector, paying great attention to the environment and to the building’s historical authenticity, as well as contributing to valorising its prestigious location in a historic district in Milan. The interest shown by international tenants and investors in properties repositioned according to international best practices confirms the long-term sustainability of the Milan and Rome markets. This is also demonstrated by the recent launch of new operations by Prelios SGR in both cities.” PATRICK DEL BIGIO, CEO, PRELIOS SGR

Ardian

Ardian is a world leading private investment house, managing or advising $141bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

PRELIOS

Prelios SGR is a company in the Prelios Group and one of Italy’s largest asset managers. It is active in the promotion, creation and management of alternative real estate investment and credit funds, advisory and separate account management, for leading Italian and international institutional investors. Prelios SGR is a pioneer in the innovation of investment products, in terms of asset classes and typologies, in part through the management of one of the first externally managed SICAFs, and of the largest UTP fund in Italy and one of the largest in Europe. Prelios SGR has developed advanced standards and control systems in terms of governance, risk management and transparency, while maintaining operating flexibility. The company is also committed to promoting sustainability, as reflected in its adherence, since 2019, to the UN PRI – Principles for Responsible Investment and, since 2020, to the GRESB.

Media contacts

ARDIAN

IMAGE BUILDING

ardian@imagebuilding.it Tel: 39 02 89011 300

GRUPPO PRELIOS

pressoffice@prelios.com Tel: +39 02 6281.4176/4826

IMAGE BUILDING

prelios@imagebuilding.it Tel: 39 02 89011 300

Categories: News

Tags:

Tokyu Corporation, L Catterton Real Estate, and Tokyu Department Store Unveil Plans for Landmark Real Estate Project “Shibuya Upper West Project” in the Heart of Tokyo

LCatterton

Renowned Norwegian architecture and design company Snøhetta appointed to design project Swire Hotels’ “The House Collective”, a leading contemporary luxury hotel brand, makes Japan debut

Tokyu Corporation, a conglomerate that is the main part of Tokyu Group, L Catterton Real Estate (“LCRE”), the real estate investment and development arm of L Catterton, the largest global consumer-focused private equity firm, and Tokyu Department Store, Tokyu Group’s retail company, today unveiled plans for the Shibuya Upper West Project, a landmark, high quality, mixed-use project in Tokyo’s vibrant Shibuya district.

Located at the intersection of the affluent residential areas of Shoto and Yoyogi, the cultural neighborhoods of Kamiyamacho and Tomigaya, and the lively Shibuya district, Shibuya Upper West Project (currently Tokyu Department Store’s flagship store) will feature high quality retail, a small luxury hotel, and rental residences. The concept of the project is “Tokyo’s Urban Retreat”, an enclave of relaxation combined with art and culture through a collaboration with the cultural powerhouse Bunkamura. Targeting completion in fiscal year 2027, the Shibuya Upper West Project will become the ‘super-connector’ of these communities, with prime access to large parks and public transportation.

The ground-breaking project leverages Tokyu Group’s deep roots in Shibuya and expertise in mixed-use developments, retail, hospitality, and culture, and LCRE’s extensive experience designing prominent destinations and curating world-class brands. To lead architectural design, the partnership has retained internationally acclaimed Snøhetta, which specializes in designing sustainable spaces fusing conceptual form with landscape and nature. The House Collective, a contemporary luxury brand by Swire Hotels, a subsidiary of Swire Properties, brings a unique, art-conscious offering to a wide fan base across Asia and beyond, marking the first true luxury hotel in Shibuya. Environmental and sustainability objectives are central to the project with the goal of securing international certifications.

Tokyu Corporation President and Representative Director Kazuo Takahashi commented:
“In the year of Tokyu’s Group’s 100th anniversary, we are honored to announce our partnership with luxury real estate investor L Catterton Real Estate, a strong partner with deep experience in creating iconic mixed-use projects who brings a strategic relationship with LVMH and Agache, global design firm Snøhetta and leading contemporary luxury hotel brand Swire Hotels. Snøhetta’s heritage rooted in Norway, one of the most sustainable countries in the world, places social and environmental sustainability at the heart of every project. The House Collective creates elevated luxury experiences with distinctive character and a sense of style. Located at the site of Tokyu Department Store’s flagship store, the new development expects to welcome diverse audiences. With its synergy with the adjacent cultural facility Bunkamura, we believe that the project will play a key part in our vision for “Entertainment City Shibuya” and pave the way for Tokyu Group’s continued growth over the next 100 years.”

L Catterton Real Estate Managing Partner, Mathieu Le Bozec commented:
“We are excited to work with world renowned and likeminded partners, Snøhetta and Swire. This project solidifies our commitment to creating value by developing next-generation, sustainable, world class destinations in key neighborhoods of global cities. In Snøhetta, we partner with a design architect that creates striking architecture and are thrilled to see their building debut in Japan become an important flagship to Shibuya. In Swire and The House Collective, we work with one of Asia’s most sophisticated and luxurious hoteliers and are delighted to introduce a new standard of contemporary hospitality to Tokyo. Together with our partner Tokyu Group, we look forward to seeing this project take shape and cement its position as the intersection of history, tradition, and urban lifestyle in one of the world’s most vibrant cities.”

Robert Greenwood, Partner and Managing Director of Asia at Snøhetta commented:
“We have imagined a new 24-hour vision for Shibuya with this hybrid urban development that combines Landmark and Landform – a bridge between the city and the streets that extends itself into the skyline – connecting Shibuya to Shoto. The design is formed as a single gesture, moving from the horizontal ground plane to the vertical skyline, symbolizing the energy of the area in a single stroke. It is an homage to the duality of Tokyo – a modern city that is steeped in tradition.”

Toby Smith, Deputy Chairman of Swire Hotels commented:
“Witnessing the growth of The House Collective is an extremely proud moment as we venture into new cities to bring our distinctive design and people-first approach to Tokyo. Our partners Tokyu Group and LCRE share our vision of creating a new and vibrant guest experience which, with the opening of our new House, will offer world-class hospitality for both locals and visitors to the city.”

About Tokyu Corporation

Tokyu Corporation is a conglomerate that is the main part of Tokyu Group, which as of March 2022 consists of 224 companies and five other institutions and foundations. With the slogan “Toward a Beautiful Age,” Tokyu has been promoting business in areas closely related to the daily lives of customers mainly along the Tokyu Railway lines, while leveraging “town planning” centered around the railway business as the foundation of the business. In Shibuya, with the aim of realizing “Japan’s most visited city” and “Entertainment City Shibuya,” Tokyu is developing and operating a large number of complex facilities and working to improve the attractiveness of the Greater Shibuya Area. For more information about Tokyu Corporation, please visit tokyu.co.jp/global/

About Tokyu Department Store (TDS)

As Tokyu Group’s retail company, TDS operates department stores, shopping centers, and specialty stores mainly in Shibuya and other areas along the Tokyu Railway lines. In Shibuya, TDS operates the “Shibuya Hikarie ShinQs” store in the landmark “Shibuya Hikarie” project, the prominent and well-visited “Shibuya Tokyu Food Show” and several other key projects in the area. By employing a multi-commercialization strategy that TDS calls “Integrating Retailer” and leveraging their expertise and curation know-how developed through their department store business, TDS aims to continually push the boundaries of enriching the customer experience. For more information about TDS, please visit https://www.tokyu-dept.co.jp/translation/eng.html

About L Catterton Real Estate

With more than $33 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton’s team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made approximately 250 investments in consumer businesses. L Catterton Real Estate seeks to generate attractive risk-adjusted returns by developing high-quality, luxury retail-driven, mixed-use real estate in premium locations globally, building close and long-term partnerships with premier local developers. LCRE provides differentiated operating and strategic support to its partners, all focused on enhancing value and investment returns to the benefit of all stakeholders. Some notable projects include Ginza SIX in Ginza Tokyo, the Miami Design District in Miami, and the Amazing Brentwood in Burnaby, British Colombia. For more information about L Catterton, please visit lcatterton.com.

About Snøhetta

For more than 30 years, Snøhetta has designed some of the world’s most notable public and cultural projects, including the new library in Alexandria, Egypt, the Norwegian National Opera and Ballet in Oslo and the National September 11 Memorial Museum Pavilion at the World Trade Center in New York City, among many others.

Since its inception, Snøhetta has maintained an original transdisciplinary approach, and integrates architecture, landscape, interior, art, product, graphic and digital design across their projects. The practice has a global presence, with offices spanning from Oslo, Paris, and Innsbruck, to New York, Hong Kong, Adelaide and San Francisco representing a multitude of different cultural and national origins with over 350 employees. While having an international approach, Snøhetta still has a strong and unified culture that is well-rooted within the Nordic model, where equality, openness, generosity and sustainability are translated into their projects.

About Swire Group and Swire Properties

The Swire Group is a highly diversified global corporation, with businesses encompassing property, beverages and food, aviation, marine, as well as trading and industrial activities. Its core businesses are mainly focused in Asia, with its key operations in Hong Kong and the Chinese Mainland. Within Asia, Swire’s activities primarily come under the Group’s publicly quoted arm, Swire Pacific Limited (HKSE: 00019/00087), which is the largest shareholder in two Hong Kong listed companies: Swire Properties and Cathay Pacific Airways. Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections.

About The House Collective

The House Collective by Swire Hotels is a group of refined, highly individual properties that defy comparison. Each uniquely imagined, The Opposite House in Beijing, The Upper House in Hong Kong, The Temple House in Chengdu and The Middle House in Shanghai were designed for seasoned travellers who seek a different, intimate and personalised experience in luxury travel. Each House is a sophisticated, singular piece of design, created by talented architects and designers, that reflect the unique qualities of their surroundings.

Visit The House Collective’s website at www.thehousecollective.com.

Business Overview and Location (scheduled, may be subject to change)

Developer Tokyu Corporation, L Catterton Real Estate, Tokyu Department Store
Address 2-24-1 Dogenzaka, Shibuya-ku, Tokyo
Use Retail, hotel, residential, etc.
Site Area 13,675m2 (includes Bunkamura)
GFA 117,000m2 (includes Bunkamura)
Floors New development: B4F / 36F
Bunkamura: B2F/ 8F
Height 164.8m
Design Architect Snøhetta
Executive Architect Design JV between Nikken Sekkei Ltd. and Tokyu Architects & Engineers Inc.
Completion FY 2027 (scheduled)

The two key features designed into the project are:
The Hive: a vibrant and lively atrium anchoring the heart of the project
The Sanctuary: a healing cultural space for visitors to engage in activities

Media Contact:
Tokyu Corporation, Corporate Affairs Headquarters, Public Relations Group
Press Contact: prd-t@tkk.tokyu.co.jp

L Catterton Real Estate
Press Contact: Julie Hamilton / +1-203-742-5185 / julie.hamilton@lcatterton.com

Tokyu Department Store, Public Relations Department
Press contact: kouho@tokyu-dept.co.jp

Categories: News

Tags:

FATTAL ACQUIRES SIX HOTELS IN SPAIN FROM KKR AND DUNAS CAPITAL IN TRANSACTION WORTH OVER €165 MILLION

KKR

High quality hotels in key strategic locations will accelerate Fattal’s international growth and add over 1,119 rooms
• Fattal plans €20 million new investment in properties and enhanced customer experience
• Acquisition forms part of Fattal’s new joint venture with Menorah, Harel and Leumi Partners

11 July 2022: Fattal Group (“Fattal”), one of Europe’s fastest-growing hotel groups, has signed an agreement with KKR, a leading global investment firm, and Dunas Capital to acquire six landmark hotels in Spain, for over €165 million. The transaction is expected to close in the second half of 2022 and will not impact guest reservations or experiences.

Located in key strategic beachfront locations on the islands of Ibiza and Mallorca, the six hotels, comprise four hotels and two apartment hotels and currently form part of the Alua Hotels & Resorts chain, each having a 4-star rating.

Totaling 1,119 rooms, the hotels boast a wide range of amenities and attractions such as pools, restaurants, bars, gyms, children’s rooms, and other recreational facilities. The hotels have historically had high seasonal occupancy rates and are seeing a steady increase in demand as guests return following the Covid pandemic.

The transaction marks the first undertaking by Fattal as part of a joint venture with institutional investors Menorah, Harel, and Leumi Partners. The partnership will finance the transaction from its own sources, in addition to a loan of approximately €95 million that the partnership intends to receive from a banking entity.

The purchased hotels – Alua Hawaii Ibiza (209 rooms), Alua Miami Ibiza (360 rooms), Aluasun Miami Ibiza apartment hotel (82 Apartments), Alua Hawaii Mallorca & Suites (230 rooms and 68 Hawaii Mallorca Suites), and Alua Palmanova Bay (170 rooms) – have in recent years benefitted from over €14 million of investment in the renovation and transformation of the hotels.

Fattal plans to invest a further €20 million in enhancing the facilities, amenities, and overall customer experience, and it is currently envisaged that the hotels will in due course rebrand to the Group’s well-known European hotel brands such as Leonardo, Leonardo Royal, and NYX.

Guy Vardi and Yaniv Amzaleg, who oversaw the transaction on behalf of Fattal, commented: “This exciting acquisition reflects Fattal’s ability to identify strategic opportunities and complete transactions of significant scale with top-tier international sponsors and partners. It presents us with a rare opportunity to acquire a high-quality portfolio of assets, timed to capitalize on the potential for a near-term return to travel, as well as the hotels’ fantastic locations – which will remain in high demand for years to come. In addition, through effective management, branding, product enhancement, and targeted investment there is a significant opportunity to grow value and generate strong returns for our investors.”

Guy Vardi and Yaniv Amzaleg recently joined Fattal to lead Fattal’s international M&A activities and joint venture. The two bring with them extensive experience on a significant scale in international transactions, having led international investment activities in recent years.

Rosa Brand, Director in EMEA Real Estate at KKR, added: “Since acquiring these hotels in 2017, we have invested significantly to transform and modernise the portfolio alongside our partners Dunas Capital and Alua, consistent with our European strategy of working with best-in-class local developers and operators. We are delighted that Fattal Group will be the new owners of the portfolio.”

Shai Raz, CEO of Fattal Hotels in Spain, remarked: “In recent years, Fattal has built a strong and profitable management platform for our hotels in Spain, that is consistent with the company’s ambitious growth strategy to expand in the most attractive areas of the European continent. We are delighted that with this deal we have created a strong presence on the Balearic Island and strengthened our overall position in Spain by bringing the total number of Spanish hotels to 16.”

Ronen Nissenbaum, CEO of Fattal Hotels in the UK, The Netherlands, and Spain, added: “I am delighted with the acquisition of the 6 hotels and their integration into our diverse and high-quality portfolio. With this acquisition, the company strengthens its presence as a leader in European holiday destinations. In addition to the quality of our hotels and our people, we look forward to leveraging our expertise and capabilities to drive positive performance and provide our customers with even greater products, experiences, and services”

David Angulo, Chairman of Dunas Capital, said: “It has been an honour to share our expertise in the Spanish market with our partners KKR and Alua to add value to this high-quality portfolio of prime assets. The combined capabilities of the three groups yielded very positive results. We believe that the Spanish tourism sector continues to have great potential and we congratulate Fattal Hotels for identifying this fantastic opportunity and investing in this trend.”

About Fattal Group

The Fattal hotel chain, owned by the Fattal family (62.08%), was established by David Fattal in March 1998, and specializes, through corporations it holds, owns, operates, rents, and manages, in hotels in Israel and Europe, as well as in the acquisition and construction of new hotels.

With over 44,0000 hotel rooms and a leadership position in countries such as Israel and Germa rooms andWith over 44,000 hotel , Fattal is the first Israeli hotel chain to lead the hotel market in a European country and is also considered a significant player in the UK, the Netherlands, and Spain.

In April 2022, Fattal Europe raised €336 million for the purchase of international hotels as part of an ambitious plan to expand its portfolio and brand presence internationally, giving it the ability to undertake up to €1 billion of transactions. Its property expansion program is managed by Fattal, Harel Insurance Partnership, Menorah Mivtachim, and Leumi Partners. This is the second partnership raised by Fattal after the first fund, established back in 2007, with institutional bodies as well.

KKR acquired the hotel portfolio through KKR Real Estate Partners Europe, KKR’s first dedicated European real estate fund. Since launching a dedicated real estate platform in 2011, KKR has grown its real estate assets under management to approximately $59 billion across the U.S., Europe and Asia Pacific as of March 31, 2022 KKR’s global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit business, across 13 offices and 10 countries.

Fattal Group was advised by CBRE, Cushman & Wakefield and Hogan Lovells.

KKR was advised by Eastdil Secured, JLL, Freshfields Bruckhaus Deringer, Deloitte and Arcadis.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

For further information please contact:

ON BEHALF OF FATTAL GROUP

Paul Griffin
pgriffin@reputation-inc.com
+353 87 667 4305

Ben Valdimarsson
bvaldimarsson@reputation-inc.com
+44 788 980 5930

ON BEHALF OF KKR

Alastair Elwen / Sophia Johnston
Telephone: +44 20 7251 3801
Email: KKR-LON@fgsglobal.com

Categories: News

Tags:

KKR Expands Industrial Real Estate Portfolio in the Inland Empire

No Comments
KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has purchased 6300 Providence Way, a Class A warehouse property located in Eastvale, California, a highly infill submarket of the Inland Empire.

The building was delivered in 2017 and totals approximately 281,000 square-feet (SF) of warehouse space with 32-foot clear heights, a 148-foot truck court and ample trailer parking and dock high doors. 6300 Providence Way is located in close proximity to I-15 and offers access to major trucking routes, as well as being approximately one hour from Los Angeles International Airport, the Port of Los Angeles and The Port of Long Beach.

“We are pleased to announce the purchase of 6300 Providence Way, an acquisition that adds to our Inland Empire footprint,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We are continuing to invest in high-quality industrial real estate in strategically located, irreplaceable locations which we believe will continue to remain a mission-critical part of the supply chain for businesses of all sizes.”

KKR acquired the property through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund. Across its funds in the U.S., KKR has committed or acquired approximately $7 billion of logistics assets in the industrial sector since 2018 and currently owns over 45 million SF of industrial real estate in major U.S. metropolitan areas.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Miles Radcliffe-Trenner and Emily Cummings
212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags: